Madoff

JPMorgan has been forced to pay fines and restitution of $2.6 billion for their 22-year role in aiding and abetting Ponzi-scheming Bernie Madoff. The people of Detroit must demand the same – the Detroit Water and Sewerage swap temination fees paid out in 2011 and 2012 by JP Morgan Chase, Morgan Stanley, UBS and Loop […]

ISDA Master Agreement

The ISDA master agreement is the most commonly used master contract for OTC derivative transactions internationally. It is used to govern many of the financial transactions between the City of Detroit and Wall Street. Below are links to the agreement and sites with explanations.